Samoa: Request for Disbursement Under the Rapid-Access Component of the Exogenous Shocks Facility: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Samoa

February 26, 2010

Preview Citation

Format: Chicago

Samoa: Request for Disbursement Under the Rapid-Access Component of the Exogenous Shocks Facility: Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Samoa, (USA: International Monetary Fund, 2010) accessed November 21, 2024

Summary

This paper discusses a request from Samoa's authorities for a Disbursement Under the Rapid-Access Component of the Exogenous Shocks Facility (ESF-RAC). The tsunami that hit Samoa on September 29, 2009 has undercut Samoa’s economic resilience and prospects for a quick recovery from the global recession. Real GDP is likely to contract in 2010. The authorities have requested a disbursement equivalent to 50 percent of quota (SDR 5.8 million) under the IMF’s ESF-RAC. IMF staff supports the request on Samoa’s low public debt and credible commitment to sound macroeconomic policies.

Subject: Banking, Economic sectors, Environment, Government debt management, Imports, Infrastructure, International trade, National accounts, Natural disasters, Public financial management (PFM), Tourism

Keywords: Cost, CR, ESF disbursement, Executive board discussion, Financing, Financing gap, Global, Government debt management, Imports, Infrastructure, ISCR, Natural disasters, Reconstruction needs, Samoa, Spending need, Tourism

Publication Details

Pages:

46
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/046
Stock No:

1WSMEA2010001
ISBN:

9781451840773
ISSN:

1934-7685

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